- Rare Investment with massive rent increase upside- Rent from only $58/m2.a year for the old lease, reviewing the market as soon as the lease expires- Strategic location with massive exposure on top of the crest of the hill at Hillcrest- Opposite to Coles Distribution Centre and close to Woolworth's distribution centre- Building area 10,739 m2 on 4.1 acres of prime land- The zoning has been upgraded to "Mixed Commercial."- The current zoning allows for any retail, commercial, office and industrial tenancies except Childcare Centre, to potentially increase the rent further- Net return $1,021, 888 per year on a fully leased basis- Offers from $17.9m
The size of Hillcrest is approximately 3.2 square kilometres. It has 14 parks covering nearly 12.6% of total area. The population of Hillcrest in 2016 was 5626 people. By 2021 the population was 6268 showing a population growth of 11.4% in the area during that time. The predominant age group in Hillcrest is 30-39 years. Households in Hillcrest are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Hillcrest work in a machinery operators and drivers occupation.In 2021, 58.80% of the homes in Hillcrest were owner-occupied compared with 57.70% in 2016.
Hillcrest has 3,209 properties. Over the last 5 years, Houses in Hillcrest have seen a 128.30% increase in median value, while Units have seen a 207.68% increase. As at 31 March 2026:
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